Economic Calendar
The top events of the next week will be the US Federal Reserve Statement and the Bank of England's release of Monetary Policy Statement. However, take into account that inflation and retail sales data might cause notable moves.
On Tuesday, at 12:30 GMT, the US Producer Price Index data will be out. Expect minor moves on USD charts.
On Wednesday, at 12:30 GMT, the US Retail Sales and Core Retail Sales data might cause USD moves.
The top event of the quarter is scheduled for 18:00 GMT. At that time, the US Federal Reserve will releases its FOMC Statement and FOMC Economic Projections and the Federal Funds Rate.
The Bank of England is set to reveal its monetary policy on Thursday at 12:00 GMT.
Click on the link below to find out more about data releases of this and other currency exchange rates.
GBP/USD short-term review
If the Pound continues to decline against the US Dollar, the rate would once again look for support in the 1.3084/1.3100 zone. The zone stopped the pair's decline at the start of this week and caused the recent surge to 1.3200.On the other hand, a recovery of the pair needs to pass the 1.3150 and 1.3200 levels, before approaching the upper trend line of a channel up pattern near 1.3225.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, the pair has passed the support levels of the 2021 low levels. Below the support zone, there is no close by technical support as low as the lower trend line of a large scale channel down pattern near 1.2950.Daily chart
Read More: Technical Analysis
Traders remain long
On Thursday, traders were long, as 69% of trader open position volume on the Swiss Foreign Exchange was in long positions.
Meanwhile, in the 100-pip range around the rate the pending orders were 53% to buy the GBP against USD.
On Wednesday, 67% of volume was long and pending orders were 58% to sell.
On Thursday, traders were long, as 69% of trader open position volume on the Swiss Foreign Exchange was in long positions.
Meanwhile, in the 100-pip range around the rate the pending orders were 53% to buy the GBP against USD.
On Wednesday, 67% of volume was long and pending orders were 58% to sell.